I'm 19 and and getting a s550...feedback please
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Joined: Jun 2008
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From: new york
03 MERCEDES BENZ S55 Amg
First of all oliverk I'm 24year old rehab techncian who work for the health and hospital corpartion of ny.and if you guys look corectly you would see me and benzino good is two complete diffrent people.******* and I think this answer your question austin guy now you know my age and occupation.
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From: East Bay Area, CA
2013 SL 550 (Previously 2012 Porsche Panamera Turbo-S, 2015 Tesla P85D, 2007 S600, 2005 E55 AMG)
Benzino Good,
All of us here know that feeling - once you have experienced the solidity and quality of an S-Class, (or MB in general) nothing else compares. Owning an S-Class is a fine goal to have - but there are many great (and even better) cars in your future and you have a lifetime in which to enjoy them.
Right now, you need to think though is this a prudent thing to do at your age, your projected income, and taking into account what else you could do with the money? All the signals I am getting is that you are over-reaching yourself and trying to rationalize an essentially irrational position. Sure your parents can help you out but is it fair on them? What other expenses are they paying for you like college etc? A depreciating asset like a luxury car is a terrible place in which to put money unless you have your life's financial bases sensibly covered. Why don't you get something cheaper and invest that $500/month if your parents are giving it to you - that will likely impress them far more.
An S-Class is a heavy investment, not only the lease payments, (if you can even get a lease) but servicing, insurance, (which will be heavy at your age) repairs, and though you say now that you will keep it for 10 years you WILL change over this period. You are going to be having many other competing demands on your resources over this time.
This is not what you want to hear - I know, but please do think it through.
Chris
All of us here know that feeling - once you have experienced the solidity and quality of an S-Class, (or MB in general) nothing else compares. Owning an S-Class is a fine goal to have - but there are many great (and even better) cars in your future and you have a lifetime in which to enjoy them.
Right now, you need to think though is this a prudent thing to do at your age, your projected income, and taking into account what else you could do with the money? All the signals I am getting is that you are over-reaching yourself and trying to rationalize an essentially irrational position. Sure your parents can help you out but is it fair on them? What other expenses are they paying for you like college etc? A depreciating asset like a luxury car is a terrible place in which to put money unless you have your life's financial bases sensibly covered. Why don't you get something cheaper and invest that $500/month if your parents are giving it to you - that will likely impress them far more.
An S-Class is a heavy investment, not only the lease payments, (if you can even get a lease) but servicing, insurance, (which will be heavy at your age) repairs, and though you say now that you will keep it for 10 years you WILL change over this period. You are going to be having many other competing demands on your resources over this time.
This is not what you want to hear - I know, but please do think it through.
Chris
Last edited by cjf_moraga; Mar 28, 2009 at 01:06 PM.
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From: WV
1993 300SD, 1997 S600 Coupe, 2007 S550 4Matic
well this makes no sense.
So they are going to lease you a car while your still in school. From your post about your lexus, you will now be a sophomore in college.
From my understanding of your extremely difficult to read statements, your parents will pay $500 a month for your car while your in school, giving you 2 more years, give or take.
Assuming a nice clean 2008 S550 is going for about $57k, and you put 7k down, that puts your financed amount at $50k.
So, lets look at some options.
2 year loan, 7% interest, with 50k principal=$2,238 per month. After your parents involvement, that leaves you with roughly $1,738 per month to pay yourself. Hell of a lot for a guy with an after school job.
"But OliverK, I have 3 years left in school". Alright, glad to hear it, lets see how that turns out.
3 years, same other info.
Payment is now $1543. Now we are getting somewhere, but I still don't believe you have the income to pay $1000 per month for a vehicle.
5 years you say?
Ah, down to a reasonable $990. Now i can believe you can scrounge together 490 worth of cash a month to throw down here.
That said, if you graduate in 2 years, you have 3 more years at $990 per month. If its 3 years in school, you have 2 years of $990 a month.
Lest we forget that someone will have to pay insurance on this machine. For a 19 year old, I'm sure you will be looking at at least 2k per year.
Either the story is missing some key elements, or your lying.
So they are going to lease you a car while your still in school. From your post about your lexus, you will now be a sophomore in college.
From my understanding of your extremely difficult to read statements, your parents will pay $500 a month for your car while your in school, giving you 2 more years, give or take.
Assuming a nice clean 2008 S550 is going for about $57k, and you put 7k down, that puts your financed amount at $50k.
So, lets look at some options.
2 year loan, 7% interest, with 50k principal=$2,238 per month. After your parents involvement, that leaves you with roughly $1,738 per month to pay yourself. Hell of a lot for a guy with an after school job.
"But OliverK, I have 3 years left in school". Alright, glad to hear it, lets see how that turns out.
3 years, same other info.
Payment is now $1543. Now we are getting somewhere, but I still don't believe you have the income to pay $1000 per month for a vehicle.
5 years you say?
Ah, down to a reasonable $990. Now i can believe you can scrounge together 490 worth of cash a month to throw down here.
That said, if you graduate in 2 years, you have 3 more years at $990 per month. If its 3 years in school, you have 2 years of $990 a month.
Lest we forget that someone will have to pay insurance on this machine. For a 19 year old, I'm sure you will be looking at at least 2k per year.
Either the story is missing some key elements, or your lying.
A 45% residual after 3 years with everything else the same would be a payment of about $906.
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02 C32 AMG
im 22 and would hate having an S class. too big. cant really throw it into turns and take it too quickly. i see it as a car to cruise in or take a family in when i am in my 30s and 40s (hopefully not offending any S class members here. just my honest opinion)
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From: Hunterdon County
'06 E 350 4matic wagon; '05 E 500 4matic sedan; '09 S550 4matic
CFJ M said it well my friend. I have no problem with a young person driving a large car, at your age I drove whatever my parents had and they were family cars. I do think that investing your cash in luxo boats is an imprudent use of money unless you are rich. I couldn't even afford a POS car until I got out of college and got a real job. If you want good advice, think about Chris's post, I realize that you won't follow it but maybe some day you will remember it.
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Bimmer
He did say his parents are wealthy so as much as it may make some people jealous or whatever get off your high horses. With that being said, I don't know how he can get the car he wants for $1000/month given his downpayment.
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Dude, the s class is a "old mans car".If you want a benz get a cl550/600. Im in my mid 40's. i have had 2 S(02,05) I always felt 20 years older in one. Take a loot at the driver next time you see one!.You will be very surprised.
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From: Central Florida
R129, XF Sportbrake, SC400
I don't know. Is saving money an option? You're young now and probably live at home with your parents, making it the easiest time to put away/invest chunks of change. Get a nice car sure, but a $55k one? Instead of getting your parents to pay half, why don't you find a car that you can acutally afford. I'd try to find something that allows me to put away half of my income instead of one that requires help to pay.
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When i was 18 i got a brand new 07 e63, 8 months later traded it in for a brand new 2008 s550 and liked it aloat more then the amg. The e63 amg looked hot, sporty and was super fast for my age but it just didn't look like an $100,000 car. I even got more chicks with my s550 then my e63....nice car=lots of money. Had my s550 for a year now and still liked it as much as the day i got it, my next benz would still be an s-class.
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From: East Bay Area, CA
2013 SL 550 (Previously 2012 Porsche Panamera Turbo-S, 2015 Tesla P85D, 2007 S600, 2005 E55 AMG)
When i was 18 i got a brand new 07 e63, 8 months later traded it in for a brand new 2008 s550 and liked it aloat more then the amg. The e63 amg looked hot, sporty and was super fast for my age but it just didn't look like an $100,000 car. I even got more chicks with my s550 then my e63....nice car=lots of money. Had my s550 for a year now and still liked it as much as the day i got it, my next benz would still be an s-class.
Really - if you need to show you can afford a $100,000+ car and "get more chicks" then you have a severe low self esteem and self-confidence problem... Frankly your post is hilarious in its immaturity. Thanks for entertaining us...
Chris
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What I find interesting is that a lot of these kids who have received these high dollar cars can't spell or use proper grammar. Now, i'm not talking about every young person who's in that situation but most.
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It's not a question of if you "look right" driving an S-Class at age 19 or not. It's only a machine and if you are wealthy and can afford E63's and S550's at age 18 or 19 then you are very lucky. The OP however is talking about leasing and it is reasonable to consider whether he has his balance of expenditure priorities right.
Really - if you need to show you can afford a $100,000+ car and "get more chicks" then you have a severe low self esteem and self-confidence problem... Frankly your post is hilarious in its immaturity. Thanks for entertaining us...
Chris
Really - if you need to show you can afford a $100,000+ car and "get more chicks" then you have a severe low self esteem and self-confidence problem... Frankly your post is hilarious in its immaturity. Thanks for entertaining us...
Chris
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From: Tracy///Fremont Bay Area , CA
03 C32 AMG
Ahah so you dropped out? May I ask how you afford a 100k car with out even graduating high school?
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My dad has 6 shrimp boats that are over 100ft and i'm the captain on one of them, i also manage all 6 of them when ever i'm not out there. He got me the car just for working for him. I'm probably gonna trade it in for a s65 and pay for it with my own money.
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From: Central Florida
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From: Hunterdon County
'06 E 350 4matic wagon; '05 E 500 4matic sedan; '09 S550 4matic
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From: St. Paul, MN
2011 E550 4Matic
this thread is such utter crap, dude who started it only did so to try to show off. if you REALLY wanted to know about the quality of teh S class, theres 100+ posts about it here you could read, theres absolutely no point to writing about how your 19 and your parents are gonna help pay for it, UNLESS u wanna brag. which dosent really work in this case as the math dosent even add up.....
